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I've been building a service that lets non-technical users deploy lending bots on Poloniex.  It's been live for about 1 month and has now generated over 75000 loans for its users.  Very much an open alpha / beta, and I'd appreciate any feedback!

https://i.imgur.com/87O8ukr.jpg

https://www.poloniexlendingbot.com/

-Ben

Cool stuff. Do we deposit into the address in our accounts or do we transfer our exchange balance to lending balance within Poloniex?

Is it currently free to use while it's still in alpha? The website looks pretty good, definitely looks professional.
What is the minimum amount of BTC required to start lending, using your bot?

I'm asking because I'd like to know this before I create an account :)

Thank you for the kind words!  To set it up, follow the setup instructions after you're prompted to enter your Poloniex API key, transfer your balance to your lending wallet on Poloniex, then activate the bot.  One of the innovative things I'm trying to do here, is offer a financial service that has very minimal access to your capital...so if you follow the setup instructions correctly, the bot *only* has permission to lend your funds, it can't trade or withdraw them...hence the need for the secondary deposit address so you can add credits to your bot to use the service.  There has definitely been some confusion around this and I'm working on the UI to make things more clear.

There are currently no minimums.  There will eventually be a tiered pricing structure to create incentives to lend more.  It's still a paid service in beta, because one of the critical components that should be tested is whether users will pay to use the service.  That said, your bot can be activated without paying the fees...so you can try it out for free, and pay only if you like it and want to keep going.

Thank you for the feedback, and happy to answer any other questions!

Cool service

I like the service, but there is no way I will be paying 10% of my interest for it, unless you can show me that using your website will net me more than I can get by doing it manually.  I had read that back on Bitfinex the bot there was able to increase interest by roughly 15% or so, but I would need some proof to show that this is possible.  Obviously its a good idea, I just wouldn't be willing to pay that much for it when I can lend myself.

EDIT:  Trying it out now, will update once my funds hit my Polo account.

If you miss manually lending for 10% of the days then it pays for itself

I really like your site and it is a great service and I think will get a lot of use.  I have been using it all week and everything is working with no problems whatsoever.  Will it remain free while in beta you said?  So I don't have to deposit any bot credits for the time being?

Great site! Will check it out and let you know if I have questions

Looks nice , I will try it later.

In the description I am reading "Poloniex safeguards against this, but there are circumstances where these safeguards could fail".

What are these "circumstances" exactly and how often do they occur according to your statistics?

Basically if the price crashes really fast and there aren't enough buy orders to handle all the selling pressure from liquidating margin trading, then you can have a circumstance where there isn't enough liquidity to pay back lenders as the borrowers would be sub prime (under water).  Probably not going to happen, but it could.

BTC has been doing pretty well this year and the predictions are positive for the next one, but you are right, you need to include the rarer, but still critical circumstances into the description. If the customers had huge difficulties with paying back due to sudden fall in BTC's price , I can understand you could not pay back the increased amounts of BTC to the providers who provided BTC when its price was higher because that would mean you would have to pay back BTC pro to the fallen rate and I also understand the BTC you can provide for this purpose is also limited and would fall in value at a crash. Well, thank you for clearing it up to me and I wish good luck to avoid such a crisis!

Thanks a million animalrobot for this bot, i will look through it now and i hope it will be simple to understand and implement because naturally this out to cost some cash when buying.

Are the Margin Lending Rates from https://www.poloniexlendingbot.com/ realistic?

Are the Margin Lending Rates still up to date? Are these sometimes manually or automatically updated?

I am asking, because I would first make trades to get the most profitable coin which I then can lend.

Copy and paste from today.

They will change and are taken from the poloniex site based on a caculation that I assume uses the current percent earned at lending. Rates fluctuate a lot and probably isn't worth chasing coins for their current return value.

Great!

Why is this bot better than Poloniex lending auto renew?

How much negative bot credit balance is allowed before the bot stops working?

Never heard about this Lending stuff on Polo.
The bot service you are planing its like a P2P lending "platform"?

Maybe you should have posted this in the first one. It made all clear. You might want to edit it so that people will see this first.
It is really cool and I love it. Keep it up.

cool!

I just signed up.
going to try this out tomorrow , when I have sometime off from work :)

holy mother of idiocy... memo to myself: you shouldn't operate heavy machinery like your BTC wallet before you had your first coffee.

Eager to try this service, I just deposited 1BTC to my bot credit account, thinking this deposit would be used for lending. I hope this is not as un-refundable as the small notification in the frontend tells me to be... Let's see how flexible the site owner is :)

beware!

I am not really sure "beware" is appropriate as he mentions multiple times and has warnings that that is not your deposit account, and anything sent there is nonrefundable.  I would assume he will refund you, but you never know.  If he doesn't you could potentially sell your bot credit at a discount and earn at least something back.

Good service. The negative point is that Poloinex very difficult to give a loan at a good interest rate. A lot of orders without traffic all day and there is no demand for capital.

You are probably right. English is not my native language. What I wanted to say was: Don't make the same mistake that I made and just take the time to read the instructions.

As for the site owner: He was very forthcoming and already refunded me without hesitation. So big thumbs up here!  ;D

I think the interest rates in XMR are quite good. Where else would you get 0.2%/Day for your capital? The bot has lended out my funds constantly since I started it yesterday. I would never be able to do that manually.

Good thing it all ended up well. At first I was shocked by your post up there. Try to read more then this came up. You should also be careful with your decisions and if you feel that you are still not awake better have some coffee first.  ;D This is real money man!  8)

Yes, but invest in XMR extremely high risk because tomorrow i don't know how failing price on Monero, very low capitalization and high volatitily.

your service free or paid sir
if your bot real rate in poloniex lending or not example rate doge 2% in your bot same 2%
can direct exceution in lending to polo or not

if your service paid how much price ?

Has anyone compared this vs a auto renew account? Would be nice to see if it brings a advantage for me to switch over to automated lending :)

This looks pretty interesting..gonna try this out when I have the chance.

Is it better to lend everything out in one loan, or smaller across a number of loans?

It shouldn't really matter, as long as you continuously have your coins lent out.  The real measurement is to only have them lent out for 2 days or so at a time so that you can play the rise of the lending rate.

looks great trying it now :)

2 days seems safe for BTC, but if I were lending LTC, then I'd be missing out on a ton of fluctuation in fees

do you guys really keep your coins on poloniex for this?

Margin lending s become really unprofitable lately. One need to keep 100 BTC on Polo to get any meaningful return.

Who s gonna keep 100 BTC on an exchange even if u would have that amount????

Still free money basically...

Is it though? Once you factor in risk involved, you could be looking at a negative return. Each person has their own risk level, but i have withdrawn any coins from margin lending at these returns.

Well, there is no "risk-free" rate for BTC, so yeah, literally any money is free money

This looks interesting and great design on the site.  Fantastic that you have had 7500 loans so far, looks like a great bot.  I will be looking more into this when I get some time. 

Working?

Was definitely working as of yesterday - I withdrew my coins to buy something

Offline for maintenance
This app is undergoing maintenance right now.
Please check back later.

iam visit youre site, is offline site and confirmation about maintanance
youre service is free or paying, if paid, how much price youre poloniex lending bot ?

Is it possible to configure maximum amount of money in a single loan and minimum percentage for a loan? Basically I don't want to put a lot of money to a single loan and don't want to lend for less than 0.06% per day.

You can set the percentage, not the amount I believe

Make sure to link your Polo accounts if you have a backup one only for this bot which I assume you do.

Dont risk getting banned.

Good project!!!

Works fine

I have a question. Where do you configure the percentage to invest?

I was using the Python script instead of this web service, but the profit made even over a few weeks is actually quite surprising.
I'd recommend this to anyone with spare coins lying around

Especially these days with so much fluctuation in price and so many people trying to take advantage

good for his services.

Is lending on Poloniex always profitable? I want to know if anyone has ever experienced loss of their capital through lending. I am not talking about margin trading the coins, just lending. I am new to Poloniex and want to know which option to pick from.

I took a haircut on Bitfinex with margin lending when everyone was forced to take a haircut due to their "hack." I believe Poloniex also had an incident with a "bug" where they forced everyone to take a socialized loss. The only other risk is if the market makes a move that is so fast and extreme that even after they force the person who was lent coins by you to close their position, they still do not have enough to pay you back. I've been lending on Poloniex for over a year and have not had any losses whatsoever. Since the maintenance margin is 20 % at Poloniex, I would think a whale would have to basically clear the order book on the wrong side in one fell swoop.

small notice, Copyright PoloniexLendingBot.com 2016


10% is to steep for me but could be doable for some.
Also i dislike 3rd party services and would more tempted to buy a package we can host or run on our own.

I'm interested in trying this out but I don't currently have any experience in lending and would like to know what you guys think is an acceptable minimum amount to start with and still generate a decent profit from lending, with or without this bot.

This any different to the one offered by guntar? I think it's called gunbot for poloniex trading from an add I keep seeing on a site I go to once a week.
But yes I would agree if there was one for bitfinex I would also be interested in buying it opposed to the one offered for poloniex lending only.

And Poloniex would have to ass the loss onto its users, which would be a death sentence for them - I think they'd prefer to take the hit and keep operating if something like that happened.

what is the minimal amount of btc to get the bot working?

https://picload.org/image/rcodwcpi/btc.png

can you custom the bot for me? I will pay you.

There is a version of this that works across many exchanges, for free:

http://cryptolend.net

What does this mean? You want the source code?

Have you personally tried this one?

How can I stop the bot from lending a specific coin? (Because I want to lend it no more, but remove it from the lending account.)

Unfortunately, from what I can tell the bot can't set up with specific parameters. It just lends out anything that is under your lending account. Only work around is to disable your bot and wait for your coins to become available again, and move them out of lending. In the meantime, you'll have to manually loan out your other coins.

Edit: Here is another work around. Go to the Poloniex Lending Bot Web page and click on the little gear next to the coin that you don't want to loan out anymore. For min % pick 5%. That way, the coins probably won't get any takers at the high rate  and you can simply cancel the open lending offers on Polo and quickly move the coins to Exchange or Margin before the bot tries to loan them out again at the high rate.

are you still mantain this service, animalrobot??

I try to use it but the bot is like activating forever...

Any new feedback on this?

Cool service!!!
Maximize profits ;D

Does anyone using this service?
Can you share the result, so I can also take the opportunity.

And I will be grateful if someone give some info about the earning potential I may have?

How much can I earn per month, if I invest BTC1 in poloniex lending and could be the benefit by using this bot?

Thanking you in advance.

Cool!
See something like this for the first time
I try to :P

I guess this is nice. I am a member of polo but not yet so involved in trading I still familiarized myself and one button I wonder what all about is the Lending". I have not yet navigate it but now I have an idea.

Does anyone using this service ???
Please tell me the result of the use

Cannot login. Please advice.

Result: positive.

But:

he's quitting the bot...

Email sent asking about potential of selling the site.  I would love to keep the site going, its a great service.

There are other options.

http://polobot.com (closed for new subscribers)
https://bitcointalk.org/index.php?topic=1928910 (very good working bot for Windows)

Yep, and I use them personally, but have been wanting to get a service such as this going.

If you are willing to sell I'd be very interested - just sent you a PM

I think you can not get the absolute profit from it. A bot is a programmed machine that only works on pre-recorded activities, you can make a profit from it, but you can lose a lot of money.

Lol did you even read where you are? It's very difficult to lose money through lending - maybe if you pick an exchange that's about to go under, but otherwise very difficult

I lost money by lending last year with Bitfinex, when they got hacked. But everyone with deposits there lost money since they socialized the loss. I did hear some people got their money back if the kept the tokens that they issued. I dumped those tokens as soon as I got them and haven't used Bitfinex since. (I still have some dust left with them though.)

Poloniex lending is not good anymore, it can give you a good profit but it is too risky, as you know Poloniex had some issues on Aug 2nd, so better to be safe than be exposed to lose all your bitcoins for 0,05% daily return.
I lended a few bucks on July 28th for a 3% daily return, it was amazing, but i only lended for 11 days and the balance returned to my balance yesterday, i prefer trading and making some profit, because you can withdraw when you want, remember that if you lend, you cannot cancel the loan.

So it wasn't really lending that made you lose money...just trusting Bitfinex

That is correct. But if you want to participate in margin lending, that is the main risk you must consider. The other risk would be a flash crash or flash rise.

Any news on the re-branding/re-design of the Poloniex Lending Bot site? Is this genuine or has the domain been bought?

https://www.poloniexlendingbot.com/

redirects to ->

https://aivren.com/

To be honest, I do not like this service, it causes a lot of trouble. I like to use my own capital to do everything. Borrowing will put a lot of pressure on us, then we can not comfort ourselves to do it.

Hi. It looks like a really nice site, but im not receiving any email to activate my account.
can u please help?

If you already had an account with the old web page, you just need to sign in. The sign in can be found by clicking on the upper left hand corner. A couple of days ago, I used register, and waited for an e-mail, and it never came. Then i figured out that I could just sign in.
If you truly are new. You might want to try e-mailing them at support@aivren.com.


Seems genuine to me. I logged in and they have all the same settings and the bot seems to still be working on the Poloniex side.

K, I'll just login then. I would have expected some announcement though of a new design/domain/everything.

Yes, a few months ago, there was the announcement that the service would be discontinued on Aug 1 on the opening web page. Then the announcement no longer was present and the site still worked after August 1st. Now they just change domain name and web page all of the sudden. The roll out of this change could have been a lot better. I speculate the original creator probably sold his baby to someone else. Hope they are on the up and up. I suppose that I should join the slack, and make queries on what is going on. However, I'm an introvert and don't really care for real time interaction,
especially when no one who can answer my questions isn't online at the time and all I get is crickets.  :-\

I don't really care too much about the design. The old one was more than functional. My concern for everything bitcoin is security, and although this is very low risk as the site owners only have the lending keys, but if the domain had been bought out by someone else on renewal and were phishing for access to the old site.... Again I don't think anything bad could happen, it's just bad practice for this to happen without an official notification.

If I'am accsess website https://www.poloniexlendingbot.com/
Always link URL change
https://aivren.com , please tell me why ?
is this the official subsidiary of poloniex exchange ? Because I just know link https://poloniex.com for get lending.

This is not an official subsidiary of Poloniex.

It would be a good alternative income method, i guess. Since most ppl will have some BTC laying around and doing nothing. Further on it seems to be a little more constant to lend BTC than only trading, which might end up in waiting for dumps to go up again..

Poloniex lending used to be 0.1%
now its 0.01%  :(

Not really profitable anymore.

Too much available capital - everyone wants to lend, no one wants to take the risks themselves

cool
if anyone interessted of info crypto it's here  :D

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As others have mentioned, the developer posted information that the poloniex lending bot service would be discontinued at a given date but it kept working beyond that, and now the accounts and similar functionality is available from aivren.com. The old URL redirects there. I use this service. So I am confirming that my plb account works on aivren. This service is not affiliated with Poloniex. It simply uses the Poloniex API to automate loan offers for you.

If you read their FAQ, they have a slack channel you can apparently join. I have not, so I cannot comment further as to their future plans.

I get this warning when going to your site:
https://i.imgur.com/Rv7nTTK.png

Please fix it.

Already the resource - https://www.aivren.com/dashboard does not work.

the project is dead? Until recently, it was working, but it had stopped last time.

I am thinking that they probably abandoned the web page. They have failed to renew their security certificate and the API hasn't been working for like a week for me. I am thinking they probably were not making enough to cover costs since I am not aware of any efforts on their part to market their bot. I could be wrong, however.

Edit: Looks like my FUD was totally wrong. It appears that the Bot is now working again.

Not working again a long time (
Sad...

Whats about this bot?
https://www.coinlend.org/

Anybody had a deal with it?

You can learn more here: https://bitcointalk.org/index.php?topic=2181372

It's possible to try them free; it works fine for me and they even have an app.

For a small amount you can upgrade, have a faster working bot and much more options.

I have used it before, it was a solid bot and worked fine. I liked this one a lot more as I didn't have to rely on a website and it was free, but as this one seems dead, it's the next best thing.

There's no update on this thread of the developer, this thread should be locked, compred to coinlend thread they always had an update every month since they launch their application in 2017.

Does anyone know what ever happened to this service?? I remember when Poloniex had made it hard to use the bot that was pay-to-use and they announced that they were shutting down ( the actual one in the pictures- it was poloniexlendingbot.com) It initially worked great, then appeared to not work anymore after it was migrated. They still have .5 bitcoin that I "pre-paid" into the thing back when it was legit in 2016/17 (also Btc was only ~$1k back then). I have relatives in other countries that can still access lending on Poloniex and wish I could let them use my bot with its balance on their accounts... Is the btc most likely gone forever??? Hate to think so now that that balance would be worth almost $20k - Ugh!